Thomson Reuters News & Insight Asks, "Will Gupta Defense Rely on U.S. v Gansman?"
October 25, 2011
Alison Frankel's ON THE CASE (Thomson Reuters 10/26/2011 "Gupta's best defense? Raj broke 'relationship of trust'") details how Goldman Sachs and Procter & Gamble director Rajat Gupta's best defense may rely on an SEC rule and a September 2011 ruling by the U.S. Court of Appeals for the Second Circuit in a previous insider trading case, U.S. v. Gansman. The Gansman appeal, argued by Morvillo Abramowitz, established new law in this area. Frankel notes that, "... crucially, the appeals court ruled it's appropriate for accused tipsters to argue that they trusted the people who received their inside information not to trade on it." To view the entire article, click here.